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Citigroup hires Koram President Ha to Run Korean bank

Citigroup Inc., the world's largest financial service company, said it hired Koram Bank President Ha Yung Ku to run its Korean banking business.

Ha, 51, will become the first chief executive officer of a new Korean bank that will be created through the combination of Koram Bank with Citigroup's Korean lending unit, Citigroup said in a statement.

Ha has been president of Koram, South Korea's sixth-largest bank with 225 branches, since May 2001 after working with Citigroup's Korean banking unit in various management positions.

Citigroup acquired 97.5 percent of Koram Bank shares this month in a public tender.